Illinois 95th Regular Session Status: In Committee 1 R cosponsors

SB 732 — MANUFACTURING JOB CREDIT

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 95th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates the Manufacturing Job Destination Tax Credit Act and amends the Illinois Income Tax Act. Provides for a credit of 25% of the Illinois labor expenditures made by a manufacturing company in order to foster job creation and retention in Illinois. Authorizes the Department of Revenue to award a tax credit to taxpayer-employers who apply for the credit and meet the certain Illinois labor expenditure requirements. Sets minimum requirements and procedures for certifying a taxpayer as an "accredited manufacturer" and for awarding the credit. Effective January 1, 2008.

Bill Text

How this bill changes current law

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This bill establishes the Manufacturing Job Destination Tax Credit Act, providing a tax credit for manufacturing companies based on their labor expenditures in Illinois.

  • 35 ILCS 5/218

    Sec. 218. Manufacturing job destination tax credit. For tax years beginning on or after January 1, 2008, a taxpayer who has been awarded a tax credit under the Manufacturing Job Destination Tax Credit Act is entitled to a credit against the taxes imposed under subsections (a) and (b) of Section 201 of this Act in an amount determined by the Department under the Manufacturing Job Destination Tax Credit Act. If the taxpayer is a partnership or Subchapter S corporation, the credit is allowed to the partners or shareholders in accordance with the determination of income and distributive share of income under Sections 702 and 704 and Subchapter S of the Internal Revenue Code. The Department must prescribe rules to enforce and administer the provisions of this Section. This Section is exempt from the provisions of Section 250 of this Act. The credit may not be carried forward or back. In no event shall a credit under this Section reduce the taxpayer’s liability to less than zero.

    This section adds a tax credit against Illinois income taxes for manufacturing companies that meet specific criteria regarding labor expenditures.

Action History

  1. Session Sine Die

  2. Added as Chief Co-Sponsor Sen. John J. Millner

  3. Added as Co-Sponsor Sen. Pamela J. Althoff

  4. Referred to Rules

  5. First Reading

  6. Filed with Secretary by Sen. Dave Syverson

Sponsors

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation labor
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Frequently asked questions

What does SB 732 do?
Creates the Manufacturing Job Destination Tax Credit Act and amends the Illinois Income Tax Act. Provides for a credit of 25% of the Illinois labor expenditures made by a manufacturing company in order to foster job creation and retention in Illinois. Authorizes the Department of Revenue to award a tax credit to taxpayer-employers who apply for the credit and meet the certain Illinois labor expenditure requirements. Sets minimum requirements and procedures for certifying a taxpayer as an "accredited manufacturer" and for awarding the credit. Effective January 1, 2008.
Who sponsors SB 732?
SB 732 is sponsored by Dave Syverson (Republican).
What is the current status of SB 732?
This bill died with 95th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 732?
Track SB 732 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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